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any one have experience with the VA business loans

Discussion in 'Beginners' started by moody73, Jun 15, 2008.

  1. I am just getting out of the marine corps and looking at starting at a commercial tannery and I was just wondering if there is any one who has experience with the VA business loan, and any advice to streamline the process?
  2. bdahyrt

    bdahyrt New Member

    I have never heard of a VA business loan. I would contact the VA on that one.

  3. I don't know about a business loan, but the VA. just sent me to school and they are setting me up with all the equipment I need to start a taxidermy business. I am 85% disabled from VN and it took me over 6 years to get approved; but once approved there is almost no limit to what they will do; just don't get too discouraged as they do take their time on all cases. GOOD LUCK !
  4. choo choo charlie

    choo choo charlie I feel pretty good for the way I feel

    I am under the impression that they operate much the same as the SBA or any other lending institution.
    you would need a certain percentage of the amount requested in capitol, cash or equipment, a solid business plan and all your ducks in a row
    Good luck!
  5. northflorida

    northflorida New Member

    Had no experience, but have the VA Handbook with toll free # 1-866-584-2344 and website www.vetbiz.gov/ for forming or expanding small businesses. Hope this helps.
  6. Ihntdeer

    Ihntdeer Member

    I would contact a Local Veterans Service Officer. They can tell you how the program works or put you in touch with someone who does. I currently work at the VA and the longer I worrk there the more I learn about the programs available.
  7. I thought the disability rating were only in tens (30, 40, 50, 60, etc..)? How were you rated at 85%. Just curious.
  8. Thanks to everyone for the replies I just got in contact with my counties VA Rep so hopefully when I go for my appointment I'll have more info. If I get anything good I'll post it on this subject or elsewhere if anyone has a suggestion. Thanks again.. Semper.
  9. TO AndyO, Iam rated at 85% but I only get 80% you are totally right. You can be rated in %5 increments but you only can collect in increments of 10%. Started out in 1970 at 15%.
  10. Stay away from loans period, why is it people have to depend on any bank loan. I have seen some people get really screwed up this way, its fine for a home or car, but thats where it needs to stop.

    It is not a VA LOAN, its backed by the VA and they will be ruthless much worse than the IRS if you default. I havea friend who was in the used car business, he is a good salesman, but he has no business ownering a dealership. he did the VA BACKED LOAN. Larry defaulted and his fines andother fees have been over $100,000. and the bankruptcy courts would not dismiss the loan or fines and fees...

    Larry rolled back some speedometers, spent several years in a Federal Prison over it, when he was released they went right back after him. He is VN vet and rated at 100% the VA is taking his total Disability Comp. check to repay the bill. Lost the rights to a VA home loan too.

    You dont need a loan from anyone to set up a taxidermy or tanning business, what ou do need is the rehab training.

    As for the local rep, dont even mess with those idiots, they are just short of stupid. They know very little expect to get you to file the claim for vocrehab or DC physical.

    I help more vets than the local guys in the surrounding three counties, I went thru Voc Rehab and even thru the state based program.